Crypto currency for beginners

As my profile indicates, I'm new to business (crypto), I just started trying to learn some things on it and I'm taking a WhatsApp class to understand how it works and this is a note I was able to compile during the class, so I stand to be corrected if I'm making a mistake or more in anything you read here. LETS TAKE A LOOK AT MY SPONSORS BEFORE WE BEGIN;

The reasons why I keep delivering

Well, generally we don’t need to talk much about it in any manner, I guess we all have a brief idea of how it is. Crypto as it is commonly called is more than Bitcoin, ethereum , dogecoin alone. It’s like a world itself, well let’s forget about the stories cause we are into the real world market and the market is always right .

There are hundred of thousands of coin and there will still be more because basically anybody can create their own coins.

We have categories of coin which mainly I will categorize as:

¶ Stable coin

¶ Alt coin (Alternative)

¶ Shitcoins

STABLE COINS

More like the ones we are familiar with, they are the generally accepted coins, in that category, we leave Bitcoin and ethereum , BNB

ALT COIN

Well more like a substitute when the stables aren’t available e.g Dogecoin, Tron etc

SHITCOINS

This are coins that could be out today pump to like 20000x and rug pull. (The developers are out)

Concept of Demand and Supply

Demand

Demand, well if not everyone, but atleast we know what demand is. Also there is this law in economics that states that the higher the demand, the lower the supply and vice versa. Demand basically means to ask for something, in this case coins.

It means to bid which means to buy.Well let’s leave it like this, you will get familiar with some terms in crypto. You don’t need to rack it all in your brain yet as you'll get use to them as time goes on. When there is high demand, the buyers gain momentum. They gain momentum in a way that they will force the price of a particular coin up till supply or suppliers want to come in. Well, that’s enough on buyers, it’s steady, just basic understanding is enough for now.

Supply

Supply on the other hand means to give. It means to sell out, another law when reversed states that the higher the supply, lower the demand. So suppliers are sellers.

Demanders are buyers. There are sometimes when both buyers and sellers will be in control of the market. Well that would be understood later on.

Another thing we have in crypto currency is news. Well news might act in your favor or against you, it depends on how well you act on it and interprete the news. News factor can change the direction of market sometimes, not that your analyses or predictions you are wrong. YOU MIGHT TOTALLY RIGHT BUT THE MARKET IS ALWAYS RIGHT AND IT RESPECTS THE NEWS. Example of prominent figures in this crypto currency world are

✓ CZBinance

✓ Elon Musk.

Please if they post any news , try to be calm before you enter the market, especially the one that catches cruise on Twitter and his social media pages, you all know who I mean.

TERMS IN CRYPTO

Moon- To pump rapidly

Lambo - To make huge profit

Rekt - Well from the name , you could guess it. To lose a whole if not all your capital.

DYOR - Do your own research

NFA - Not a Financial Advice

TA - Technical Analysis

FA - Fundamental Analysis

This brings the end of today's class, you might have learnt one or two things even though most of them are basic things, I'm not sure if I'll be continuing this class is why I didn't prepare for that in my topic but it depends on the turnout.